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Mad Money

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Us 10, Cramer 9, Romney 8, Obama 6, Sandy 4, U.s. 4, Booyah 4, Bhc 3, Sony 3, China 3, America 3, Texas 2, Jim 2, Johnson 2, Karen 2, Heaven 2, Exxon 2, Warren 2, Arizona 2, North America 2,
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  CNBC    Mad Money    News/Business.  (2012) New.  

    November 7, 2012
    6:00 - 7:00pm EST  

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>> grasso? >> las vegas, lvs. >> still think the tlt has room to move higher. "mad money" starts right now. >> i'm jim cramer and welcome to my world. you need to get in the game. he's nuts. they're nuts. they know nothing. >> i always like to say there's a bull market somewhere. "mad money," you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. my job is not just to entertain, but to teach you how this works. call me at 1-800-743-cnbc. it's too easy a call for a broker to pass up one. broker's got to make it. it's too easy for a broker to call the client and say sell, sell, semi. and that exz plaplains a lot of
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vicious decline. nasdaq, nose dive, 2.8 per cent. i searched far and wide to see how the sell-off occurred. i want to talk to you about selling and how it happens. after all, i sold stocks for a living. so let me put on my brokerage hat -- well, no, i didn't wear this one, but let's say i was a broker in the '80s when i worked at goldman sachs. it's behind a great deal of the sell-off that you're seeing right now. it's a script that says it's time to make some changes in your portfolio. it's a script to make projections all along the way. there are always objections when a customer thinks all you're trying to do is get that transaction. generate commissions, even if it's you that the trades must be
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made and the capital will be allocated in a more responsible way. first, i would pick up the phone and say listen. there was a feeling on wall street in the last few weeks that obama was going to lose. that romney had decided to spend a ton of money and win pennsylvania and ohio and he already owned florida. so it's all a done deal. don't believe me? did you watch cnbc's coverage last night? republly can after republican came on right after ohio got called for the president. these people were just plain, out right sellers today. they bought in anticipation of winning. they sell what romney lost. most of my investors will say oh, yeah, hey, sure. let that run its course. i'm not going to sell my gap stores for target, right or wrong? however, i would rebut that we suddenly have a new word. the head of the european central
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bank picked up today, of all days, to say that things have worsened dramatically in europe including germany. that means there's a new sense of urgency to fix the europeanness and we're learning to be wary of the way europeans are going about their "bailouts." here's what the client would say. wait a second. we've been through this before. why do i have to take any action? come on, that's a fool's errand. you're just trying to churn me. i, with my broker hat on again would say, okay, sure, this, too, shall pass, i guess. but now let's talk about the fiscal cliff. oh, boy, hey, i know, fiscal cliff. let me just say i would immediately roll. you can feel that through the phone. they've heard it over and over. and i'm sure many other people on the line would say hey, come on, that's got to be discounted
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in the market. that's like five times this week you mentioned. i would be ready with that, too. i would say boring. look at happened with the election last night. we did not solve the gridlock issue, so we will get the sequestration thing on stocks. the president would say the speech was an olive branch to the other side. it's a new era. some dyed in the wool democrats might actually like to go over the cliff because such a jump would make cuts in what they might think is a blow to defense budget raising taxes for wealthy people. now, even though that's an incredibly cynical interpretation of what's happening, the twist of world that is washington inspired a
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ton of hatred for just about everyone, particularly the wealthy. i think they would have softened the client up for what i regard as being a prudent reallocation of capital. not a fleaing of the market, please. no, not a fleaing of the market. but a recommendation of some trims and tucks and recastings to stay diversified and protect gains. remember, a good broker has several responsibleties. he's got to worry about preserving your capital and he's got to give you some capital appreciation. given that you only need to get rich once, a line i use endlessly at goldman sachs, i would be putting on my capital preservation halt. which, unlike my brokerage cap, resembles more of a hard hat. no soft chapeau here. my recommended course of action? here's what i would say. first we need to take some
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profits in the biggest winners. stocks like retailers. they benefitted from the payroll tax cuts and those are going to go away. there will be less purchasing power. second, i would say stocks like walmart that had a huge run go up another 10%. it may still pay to sell it now than when you get over on the other side where it may appreciate 10 percent. needless to say, a stock like apple is very particular for this time of sell call. it makes so much sense to sell it now, take the capital gain as many have huge profits here. these people are selling what i call natural sellers. they don't care about next year. they don't care that it could be better. they don't care that apple is cheaper. they don't care it has a hundred billion in cash. they don't care about the iphone. they want to take the gain this year to get the tax break which may be worth more than any capital appreciation they hope for in 2013.
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pretty simple. third, i would say stocks that we have appreciation in with the big dividends, it could be pretty atraktive. others who might be less clued in than we are. just say i'd take some. we can revisit those stocks lower after others figure out that dividends could be lowered at twice the current rat. that's the way it was before the cuts. all right. now, here's the real run. i would never tell people to sell everything. that would be stupid. especially, if, heaven for bid, they actually rise above politics chb. i would just say hey, come on, please, raise a little cash with an em fa sisz on little. i would then tell my clients that we will almost immediately start to put money in working companies that will not be hurt by the fiscal cliff.
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it wasn't too fine a slow down the cliff could bring. everyone's coming down. i would tell people to avoid european risk. i would urge them to consider some gold because ben b-- here' a tough one, sit on the cash. not going to hurt. could help. here's the bottom line. if i were still a broker, i know i would get that sale end. i know i would clinch it. the client would then thank me and we'd do the trimming just as we both wanted and do a re-positions when it's worth more now that the election is over. it just makes too much sense for the broker to make that call even if the clients were kal si trent. the money must only be taken out, hopefully, at a ripe, old age. let's go to jim in texas.
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>> caller: hello, and booyah, jim from the home of the houston texans. >> i like the texans here. i like that tight end. he's killing it for me. >>. >> caller: he sure is. sunday night's game should be interesting. >> it will be nice for this stuff. i love sunday night nbc. go ahead. >> caller: yeah, i've got a two-prong question for you regarding bhc or bernak kps x. considering their successful trial violating their patents against apple, which chance does bhc have in achieving a cease and discyst order? >> yi don't think that's going o happen. i think what you have to hope for bhc is a special dividend or deal with apple where apple pays them a royalty. that was not part of the concession. the stock was up very big today. do not be greedy, but i
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understand that was a righteous decision for the shareholders. let's go to nick in wisconsin, swing state. >> hi, jim. is pfizer's new drug going to hurt? >> well, first, thank you for serving us. don't forget, we've got a big veteran's day show coming up on friday. every one of those stocks i like. i'm not worried about the competition. all of these companies have lottings of irons in the fire. ely lily always looks like it's breaking down. that's when you have to buy it. mid 40s, i really think you have to pull the trigger. please, don't panic. fiscal cliff is now top of the mine. we don't believe that people can rise above and, for broker, it's just too easy a call to say, hey, take some profits and move on. we'll be right back.
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>> announcer: coming up, new priorities. >> bring ourselves from foreign oil. we've got more work to do. >> announcer: america's energy debate isn't stopping po post-election. it's just heating up. will the desire for independence push energy service stocks higher? or could a crack down on fraking extinguish their claim? cramer finds out when he talks to the c.e.o. next. and, later, the election correction? the market obliterated anything romney today. cramer is rummaging through the romney rubble to find you diamonds in the rough. plus, in stable condition, the president gets another four years. and it appears obama care gets a clean bill of health. so where does that leave medical plays like opco health. tonight, cramer speaks to its c.e.o. to find out. all coming up on "mad money."
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>> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer hash tag, mad tweets. or, give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. there are a lot of warning lights
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market has taken a serious beating today. but don't let that discourage you from trying to find winners. they're still out there. take clean harbor, clh, the national disaster clean up play that we spoke to last week. another hazardous waste outfit for 1.25 billion. that was almost ten points ago. the same time i told you with hurricane sandy approaching, clean harbors was exactly the kind of company to look at. fast forward to this morning, clean harbor a very solid quarter. up $1.90 on a hideous day.
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slow down and drilling hurts big harbors because it's one of the biggest, dirtiest industries that they clean up after. industrial services sell 15 percent. now, some people thought it was a little light. but none of the forecasted reflected revenues from the emergency response association with hurricane sandy. it's too early to estimate how big that business will be and how long it will last. in short, that means the possibility of these numbers. i've been a fan of clean harbors for ages and the stock is up 76 percent since i first got behind them in june, 2010. could this be the right time to get aggressive? let's talk to the chairman and c.e.o. of clean harbors to learn more how his company is doing in this environment. the stock is down -- the stock was up huge when we spoke last, but i think that's deserving of it. i'm going to ask you right now, at the top of your conference call, we currently have 500
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clean harbor related personnel on the ground at a number of states. tell us what clean harbors is doing with hurricane sandy? >> we're probably up to about 700 people now, jim. we're providing everything from logistics support, generatorgen fuel, certainly clean-up work. there's a number of there that had some significant oil spills that helped them to get those facilities going again. it's certainly anything to do with the remediation side, you know, whether it's removing hazardous waste from these properties that have damage to avoiding any kind of chemical waste that's a part of the clean-up. it's a whole round of services here. >> do you do with fema? governor christy? govern govern governor quomo? how does it work?
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>> most of your waterside facility haves to have standby, emergency agreements. so when the events like this happen, most of the time we will have a contract in place. or from engineering consulting firms who may also have contracts in place with those firms. >> how do we have 700 people ready to go? >> we have a standby research group, an emergency response center that we man. we have 9,000 people in our organization. so we'll draw from those 400 or so sites. but we'll also work with another of other subcontractor that is we have relationships with that do routine training with us and a lot of response training. so, like, in the gulf where it was 3500 people at one time, we bring those folks in from our partners and really try to provide that necessary pool of
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labor when the big event is happening. >> i don't want to say you guys are a monopoly, but is there anybody else that could handle a job of this size? >> i think what really differentiates us is not only the as sas assets, but the peop and the systems. to be able to every day deliver cost information, utilization information, information about the quantity of waste that's being collected to the government agencies so they're made aware of what's going on. i think that that really separates us. >> it's your third, largest vertical 15 percent. could this be one of your biggest verticals? >> well, it's been a focus of ours. we have a pure vertical approach. we're in 145 or so refineries in north america. we're providing everything from
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turn around services to industrial clean-up. everything to do with emergency response work, certainly. but the refinery market is a very strong market for us. we continue to see big investments being made to make some of the refineries that much larger and more complex. some of the older, antiquated refineries are being shut down. it's a real focus of our business. >> allen, one of the things that amazed me about this quarter is your landfill business. i'm very close to waste management. they're not operating anywhere near what you are. you have 91 percent on incineration. where is the stuff coming from? there's not enough construction site work from waste management to fill their landfills up. >> we have 11 landfills in north america, two in canada, nine here in the u.s. a lot of that volume that we're getting into our landfills in the u.s. is from the oil and gas place, quite frankly.
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so our raeal focus to deal with drill cuttings, a lot of the drilling muds, processing waste on these drill sites. but we're also -- i would actively pursue remediation projects. large events or projects that are taking super-fund related clean up. that's a steady kind of business that we're working on. we continue to see that volume or business continue to be pretty steady and growing. >> as a staff at cnbc, we're really focused on the fiscal cliff. i know people are tired of hearing that term, but it's huge. is there super fund money that's cut dramatically because of this sequestrati sequestration? >> you know, the super fund hasn't really been reauthorized for years. the amount of money that's being spent directly by the government is really small. what we're working for are these
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prp groups, these responsible parties where they've collected moneys from people that originally sent waste to these sites. they contract with services like us. one last question in that presidential race. it was widely perceived that governor romney was very pro-fossil fuel. are you concerned now that a second term e.p.a. may come in and stop frakking, which may be important because service fraking is part of the business. >> i certainly hope that we will come up with federal guidelines that will be consistent throughout the u.s.
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the real concern, obviously, is not just the water side, but also the emissions side. particularly that flowback water that's coming after the initial fraking. and i feel very confident that if we can get some consistent regulationings and guidelines, then we'll be able to find more services around those sites and provide that environmental service that they're looking for. i really do believe that either administration recognizes the low value of natural gas to our economy and i hope we continue that way. >> we didn't get to it this time because there's so much going on with sandy. but congratulations on a really fabulous quarter. >> guys, look. there are certain stories. we bring them to you last week. stocks at 50 goes to 59. when this stock comes in, think
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about the opportunities we have. >> announcer: coming up, election correction. the market obliterated anything romney-related today. but stick around. cramer is rummaging through the romney rubble to find you diamonds in the rough. in america today we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them.
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they undid the romney trades today. the stocks bought by those believed in a romney win, whether they wanted it or not. so the question of the day, should we pick among the run? especially on the eminent fiscal cliff. the most prominent stocks affiliated with a romney win are, alas, the exact same stocks that are most probably in the cross hairs of the obama administration. we've seen those coal stocks go up endlessly. remember, romney wanted to get there by drill bit. romney wants to get there via renewables. if you buy the coal stocks, you're fighting a coal hating. eta just getting four years of new life. these stocks are sales even after today.
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you insist on call exposure because you think china is coming back. how about union pacific. i understand natural gas moves up a little bit when the utilities are not going to reach anymore. it may make sense to be in one of those stocks. union pacific is the best in show. i will add that union pacific has the further to fall. but it is certainly going to be the winner of the group. second, the defense stocks. double whammy. now you're most lickly going to have sequestration. time to do some trimming. how about the china fashion stocks themselves. governor romney talked about how he was going to call out china
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as a currency manipulator. that would have helped the commodity stocks, particularly the steels. and i say you've got to sell them. there is no relief for dumping. these people believed romney would open up more plans for federal drilling. >> i see no reason for oil to get further here. my clin nation is to look for stocks on sale. okay. dividend protection isn't as good as we go over the cliff.
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they raise taxes on dividends, but they do represent good value in a resource-constrained world. especially after $4 pasting for crude. it's a tough call. these stocks are up so much that in any case, you might want to sell them just to lock in that great capital gains. i think the world of cosco and walmart. i like the apparel stocks very well. pbh. i can understand trimming them after sequestration and a fiscal cliff that raises the taxes on capital gains. those that thought romney could scrap obama care really got whacked today. these companies are doing quite well. i'm not going to recommend selling these stocks. i'm more willing to buy them.
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at the same time, i actually do want to sell, sell, sell the hospital stocks that ran up today off of assurety for obama care. hey, listen, that's a bad business, with or without obama. finally, i disz agree, even if the banks are killing them. they've been able to make a ton of money. >> romney would have fired ben ber nan key immediately. and i think could that have caused a recession to occur rather rapidly. think that birnake and obama would have done a good job. it would mean that homes that are just emerging from their underwater status could go back and drown. that easterble for the banks.
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their low rates may hurt the banks and interest margins, but they've been a gond send for the housing and land inventory. so i think it is more of a push issue. in this case, only the tie goes to the bulls because the banks are cheap. and i believe it will be avoided under bernan kerks's tootalidge. >> so i had to laugh when the ceo said the fiscal cliff means nothing to him. the rush is far more important. do you know how many stocks are in the same boat where another country is more important than the united states? soft goods, packaged good companies, think johnson and johnson. they always make sense to buy,
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not sell. next, buy some gold, for heaven's sake, would you? come on already. romney's hard money strategy would have been a disaster for gold. bernanke's easy money means buy gold. how about some special situations? now we can get some profit taking. i can get that. here's one, talked about this last night on carl and maria show. how about cabellas. that's the out door sports and recreation store. but it missed the quarter because it wasn't enough cold weather. guess what, it's got real coal. the whole country is a little colder than it was.
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a portion of the income you receive may be exempt from taxation. best idea yet, how about some linco? still yielding 7%. still protected under the new ree jeem. here's the bottom line. may too many people thought romney was going to win. still, as the market comes in, think about the mlps. . >> caller: we definitely have to invest in our infrastructure. how will they look elsewhere?
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>> i'm goirng to let you be. i had my world rocked by the floor quarter, flr. it was so hideous and horrible, i've got to stay from the suspicions. foster wheeler could be hurt because the clean c orksz al thing is not going to get the money. i say stay away from infrastructure. >> cramer, i have a question about magnum hunter resources. i purchased about 15,000 shares at 30 cents a share. my question is, should i hang onto it? buy more? or sell it? >> i'm not a tax accountant, i can't tell you what to do in terms of personal. but i will tell you if i had a stock that bought at 30 cents and went to $3, that's a no hfd brainer, my friend. >> how about some johnny walker
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black? don't move. lightning round is coming up next.
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it is time. it is time for the lightning round. and then, the lightning round is over. are you ready, ski daddy? it's time for the lightning round. why don't we start with ct in new york. >> caller: big booyah to you, jim. it's dv u.s. divas. oh, boy, the initial numbers, the initial scripts in the game are not that good.
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i reiterate. go ahead. >> do whatever you want. >> let's go to warren in arizona. >> caller: booyah, jim. warren in arizona. like i say, my wife, nancy and i watch you every day. our stalk is boardwalk empire's enterprise. >> i'd say you've got horse sense. i like this stock. a lot of people worry about these mlps, i am not. >> hi, jim, how are you doing today? >> okay, well, question on two retail stocks that i don't know. jcpenney and sears, they have a lot in common. they both lose money. they both have negative same-store sales. and, my opinion, i think their
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business mounds are a little flat, but they do own part of the real estate. are they overvalued? and the big question is what would the share price be of each company if you just base it on the value of the real estate? >> you have to believe that retail is going to really come roaring back more than it has. i want to avoid both of them. let's stay away from both of those and stick with quality. let's go to thelma in north carolina. >> i've got an odd lot of communications. should i sell, hold or buy? >> you've got that odd lot probably because of the verizon's bill. i want you to sell, sell, sell. i agree, the quarter wasn't that good. i know it's 4 dlarsz, how much can you lose? $4. ladies and gentlemen, that concludes the lightning round.
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>>. >> announcer: coming up in stable condition? the president gets another four years and obama care gets a clean bill of health. where does that leave medical plays? tonight, cramer speaks to its ceo to find out if health care clarity makes this stock a buy. , but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade.
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on a day where the market got absolutely obliterated, i have a little speculative company. it does not need to worry about the fiscal clifr. you can go higher down the road now that obama care is here to say. i'm talking about opko, o-p-k-o health. a billion dollar company that specializes in developing diagnostic tests. don't jump all over this thing because you will lose money. opko is working on rapid tests for prostate cancer, alzheimer's and vitamin d deficiency. opko is only for speculation. it's very risky. you're playing the fda roulette.
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the company has numerous different shots on goal. right now, they're working on six different products. each of which could represent a billion dollar opportunity. this stock should still be a real winner. the company has a drug division where they're working on treatments for parkinson's, als and alzheimer's. all of these are very early stage development thrusts. i believe in management. the ceo says incredible track record over the last 30 years. he's found it and sold not one, but two key companies. these stories have time to develop but ultimately, have time to develop. i think he's having time with opko. he already owns 40% of the company. let's check in with dr. phillip frost and find out more about where his company is headed.
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>> i spent the last two hours starting with prostate or the alzheimer's or the work that you're doing so that you're less nauseous. each one, i was so skpieted, i just didn't want to slight one of them. >> very good. so, first of all, so far as the vitamin d is concerned, that's a work in progress. remember the card that i showed you last time? i still have one with me. that is a point of care test. now, the vitamin d market in this country is approximately 2$2.5 million. there were 70 million tests done last year. let's be conservative and call it 50 million and $50 a test, it's a $2.5 billion market. we think we have a good chance to recover it. the point is that this is done in the doctor's office so the
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doctor can make some money rather than the laboratory that's now getting all the benefit. but, today, i'd rather dwell on a test that deals with the very issue that you mentioned. saving a lot of money. and this gets back to the prostate. we now have a new technology that we refer to as the 4-k score. it involves four markers in an algorithm and you wind up with a number. this test can be done with a simple drop of blood and the number that you get is an indicator of whether a man has prostate cancer or whether it's aggressive type or slow-growing variety. >> we already have one. we have psa -- >> but the psa is highly inaccurate. and the point is this would be done for men who have an elevated psa and that occurs in
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5% of the men. now, there are 30 million psas done in a year so roughly between 1 and 1.a million. 70% has been shown to be negative. there's a lot of effort and pain going into these needless biopsies, not to mention costs. with a million of those, you end up with a $5 billion cost. we think we can eliminate half of those if you do the 4-k score on only the men who have an elevated psa. not only do you save the $2.5 billion on the cost, but you save the grief from all of the side effects, some of which can be fatal, such as severe septicemia. and to prove that, we just went ahead and bought a laboratory in memphis, tennessee that
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specializes in doing tests for urologists. what we're going to do is put this 4-k test in their labs and you can do a laborato laboratory-developed test, which we can do, and be out in the market in months. >> this is a 2013 product, right? it could be very early 2013. it's already on the market in u.k. now we're going to have all of our subsidiaries start to market in those locations. so this is a major effort on our behalf now. >> doc, unfortunately, i've got to go. i want to very quickly say you keep buying stock, don't you? you just believe in it.
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thank you for making my old hedge fun a lot of fun. >> my pleasure. >> okay. dr. frost, look, opk. again, speculative, speculative, speculative. i don't want you to say wait a second, nothing happened in the last 48 hours. why did it go down? this is longer term speculation. "mad money" is back. >> announcer: coming up, how do your stocks stack up in this mystifying market? cramer makes sure your port folio makes the grade on "am i tech day sers fied."
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and you pick the price that works for you. great. whoa, whoa, jamie. watch where you point that thing. [ mocking ] "watch where you point that thing." you point yours, i point mine. okay, l-let's stay calm. [ all shouting ] put it down! be cool! everybody, just be cool! does it price better on the side? no, it just looks cooler. the name your price tool, only from progressive. call or click today. i got you covered. thank you. oh, you're so welcome.
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well, last night's election may have alleviated one area of confusion for the market. there exists a large amount, a mound of uncertainty between fears over the fiscal cliff and plans over how we plan to solve the gridlock issue. today, steve drop reminds us that nothing's certain. it's your job to protect your profits and protect your portfolio. i'm here to help. so you call me and say if your portfolio is diversified enough. let's start with karen in texas. karen? >> caller: hey, jim, booyah, booyah, all of our troops. >> booyah. >> caller: my companies are, let's see here, rht, red hat, hpq, panera, pnra, atw and sony,
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s&e. >> wow, okay. oh, boy. all right. wow, anyway, sony is a not-great entertainment you've got to sell it, whether it's diversified or not. y eve got to sell it. red hat, we know that was a technology company. hewlett pack ard, no, no, no. we're going to keep the red hat and go with bristol myers. and we'll get rid of sony and, instead, what we'll do is we'll buy some cat pillar. get a little industrial in here. that will do. let's go to bob in new jersey. how are you doing, bob? >> good. i have five stocks i want to ask you about.
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exxon mobile, sirius satellite, biomed realty, bmr. kimko realty and mechancdonalds. >> well, one is related to medical and one is related to us. purists are gingrich to get mad because they're both reads. obviously, we missed mel carmes. i think they tweeted him poorly. exxon, nobody ever got in trouble buying exxon. restaurant, oil and gas, speck, health real estate, shopping center real estate. i'm going to bless it. pab i'm just in a forgiving mood after an all-nighter, stay with
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>> seconds away on "the kudlow report," the biggest drop of the year the day after president obama gets re-elected. coincidence? or is that unfair? me, i'm reaching across the aisle. will the house republicans do the same? plus, if the republican party didn't get the latino and immigration message last night, they are never going to win another election in my lifetime. "the kudlow report" just moments away. >> oh, i see you're back.